🎉 Kansas Mortgage Specialist | Philip Scagila

Selecting the best mortgage plan in Kansas is an important step toward securing your dream home, and Philip Scagila at First State Bank of St. Charles is ready to guide you through the process. With years of experience in the mortgage industry, Philip can help you identify the ideal plan based on your financial goals and homeownership aspirations.

• Assess Your Financial Situation: Philip will begin by reviewing your credit score, income, and debt-to-income ratio to assess your financial health. These factors play a significant role in determining which mortgage products you qualify for and which will offer the best terms.
• Understand Your Homeownership Goals: Whether you’re a first-time homebuyer, looking to refinance, or planning to invest in real estate, Philip will tailor his recommendations to your specific goals. A fixed-rate mortgage offers stability with predictable monthly payments, while an adjustable-rate mortgage (ARM) might be more appropriate if you’re looking for lower initial payments.
• Compare Loan Options: First State Bank of St. Charles provides a wide range of mortgage products, including conventional loans, FHA loans, VA loans, and jumbo loans. Philip will help you compare these options and explain how factors like interest rates, loan terms, and down payment requirements will impact your overall mortgage cost.
• Consider Loan Terms: Choosing the right loan term is crucial in managing your long-term financial plans. Philip will guide you through the advantages of shorter-term loans, such as 15 years, which typically have higher monthly payments but lower overall interest costs, versus 30-year loans that spread payments out over a longer period, making them more affordable in the short term but with higher interest over time.
• Evaluate Additional Costs: Beyond the mortgage itself, there are additional costs to consider, such as property taxes, homeowner’s insurance, and possibly private mortgage insurance (PMI) if your down payment is less than 20%. Philip will make sure you’re aware of all these costs, helping you budget effectively for your new home.

For expert advice on selecting the best mortgage plan in Kansas, reach out to Philip Scagila at First State Bank of St. Charles by calling (913) 749-0114 and start the journey to homeownership with confidence.

Improving your credit score is essential when applying for a mortgage, as it directly affects the interest rates you qualify for and your overall loan approval. Philip Scagila at First State Bank of St. Charles can offer personalized strategies and help you leverage tools like Middle Credit Score® to improve your credit profile before applying for a mortgage.

1. Review Your Credit Report
   Start by reviewing your credit reports from the three major credit bureaus—Equifax, Experian, and TransUnion. Philip can help you identify any errors or inaccuracies that may be negatively affecting your score. Middle Credit Score® provides tools to help you dispute these errors and improve your overall score.
2. Dispute Credit Report Errors
   If you find any inaccuracies on your credit report, Middle Credit Score® offers resources to guide you through the process of disputing them with the credit bureaus. Correcting errors such as outdated information or false entries can lead to a quick improvement in your score, making you more attractive to lenders like First State Bank of St. Charles.
3. Lower Your Credit Utilization
   One of the fastest ways to improve your credit score is by lowering your credit utilization ratio, which is the percentage of available credit you are currently using. Aim to keep your credit utilization below 30%. Philip can help you create a plan to pay down high-interest debt, and Middle Credit Score® offers tools to manage your debt effectively.
4. Avoid Opening New Lines of Credit
   Before applying for a mortgage, it’s important to avoid opening new lines of credit. Every time you apply for new credit, it triggers a “hard inquiry” on your report, which can temporarily lower your score. Philip will advise you on how to maintain a stable credit profile in the months leading up to your mortgage application.
5. Make Timely Payments
   Your payment history is one of the most important factors in determining your credit score. Late payments can have a negative impact on your score, so it’s crucial to stay current with all your bills. Middle Credit Score® can help you set up payment reminders or automatic bill payments to ensure you never miss a due date, which will strengthen your credit profile.
6. Address Negative Items on Your Credit Report
   If your credit report contains negative items like late payments or collections, it’s essential to resolve these before applying for a mortgage. Philip can assist you in negotiating with creditors to settle outstanding debts, and Middle Credit Score® provides guidance on addressing these issues to improve your score.

By following these steps and utilizing Middle Credit Score®, you can significantly improve your credit score, increasing your chances of securing better mortgage terms. Contact Philip Scagila at (913) 749-0114 for personalized advice on enhancing your credit score before applying for a mortgage.

Yes, whether you’re looking to refinance your current mortgage or purchase a new home, Philip Scagila at First State Bank of St. Charles can guide you through the process and help you secure the best mortgage solution for your financial situation.

Home Purchase with Philip Scagila at First State Bank of St. Charles

• Pre-Qualification and Pre-Approval: The first step in purchasing a home is to get pre-qualified or pre-approved for a mortgage. Pre-qualification provides an estimate of how much you can borrow, while pre-approval is a more in-depth review of your financial situation. Philip will help you with both steps to ensure you are ready to make competitive offers on properties.
• Choosing the Right Loan Program: First State Bank of St. Charles offers a wide range of loan programs, including conventional, FHA, VA, and jumbo loans. Philip will explain the benefits of each option and help you choose the program that best fits your financial goals and homeownership plans.
• Securing Competitive Interest Rates: Philip is committed to securing the most competitive interest rates for his clients. He will monitor the market to lock in the best rates, helping you save money over the life of your loan.
• Step-by-Step Guidance: From your mortgage application to closing, Philip will provide personalized guidance throughout the process, ensuring a smooth and successful homebuying experience.

Refinancing with Philip Scagila at First State Bank of St. Charles

• Lower Your Interest Rate: Refinancing allows you to take advantage of lower interest rates, which can reduce your monthly payments and save you money in the long term. Philip will evaluate your current mortgage and help you decide if refinancing is the right move for you.
• Cash-Out Refinancing: If you’ve built up equity in your home, cash-out refinancing allows you to access that equity for major expenses like home improvements or debt consolidation. Philip will walk you through the pros and cons of cash-out refinancing and help you determine if it’s the right option for you.
• Shorten Your Loan Term: Refinancing to a shorter loan term, such as 15 years, can help you pay off your mortgage faster and save on interest. Philip will assist you in weighing the benefits of shortening your loan term based on your financial goals.

For expert advice on refinancing or purchasing a home, contact Philip Scagila at (913) 749-0114 to discuss your mortgage options today.

To begin your mortgage application with Philip Scagila at First State Bank of St. Charles, it’s important to have all the required documents ready. Being prepared will ensure a smooth and efficient mortgage application process.

General Documents Required for Mortgage Applications

• Proof of Income:
  • W-2 Forms: Provide W-2 forms from the last two years to verify your income and employment history.
  • Pay Stubs: Submit your most recent pay stubs, typically covering the last 30 days, to confirm your current earnings.
  • Tax Returns: If you’re self-employed or have other sources of income, you will need to provide federal tax returns for the past two years.
• Proof of Identity:
  • Government-Issued Identification: A valid photo ID, such as a driver’s license or passport, is required.
  • Social Security Number: Your Social Security number will be used to pull your credit report and verify your identity.
• Credit History:
  • Credit Report: Philip will review your credit report to assess your mortgage eligibility.
  • Debt Information: Provide documentation of any outstanding debts, including credit cards, student loans, or auto loans, to calculate your debt-to-income ratio.
• Proof of Assets:
  • Bank Statements: Provide bank statements from the last two months to verify the funds available for your down payment and closing costs.
  • Retirement or Investment Account Statements: If you plan to use funds from a 401(k) or other investment accounts, provide statements showing the available balances.
• Proof of Employment:
  • Verification of Employment: Philip may contact your employer to verify your employment. Self-employed individuals will need to provide additional documents like business licenses or profit and loss statements.

Loan Program-Specific Documents

• Conventional Loans: These loans may require more extensive documentation of your income and assets.
• FHA Loans: FHA loans may require additional documentation to verify your eligibility, especially if your credit score is lower.
• VA Loans: Veterans applying for VA loans will need to provide a Certificate of Eligibility (COE) and possibly military discharge papers.
• USDA Loans: USDA loans require proof that the property is located in an eligible rural area.

By gathering these documents ahead of time, you’ll ensure a streamlined mortgage application process with Philip Scagila at First State Bank of St. Charles. For more information or to start your application, contact Philip at (913) 749-0114.